World's Cheapest Energy Source Will Be Renewables Within Three Years (qz.com)

Morgan Stanley researchers predict renewable energy will become the world's cheapest form of power within three years. An anonymous reader quotes Qz: Renewable energy is simply becoming the cheapest option, fast... "We project that by 2020, renewables will be the cheapest form of new-power generation across the globe," with the exception of a few countries in Southeast Asia, the Morgan Stanley analysts said in a report published Thursday... Globally, the price of solar panels has fallen 50% between 2016 and 2017, they write. And in countries with favorable wind conditions, the costs associated with wind power "can be as low as one-half to one-third that of coal- or natural gas-fired power plants." Innovations in wind-turbine design are allowing for ever-longer wind blades; that boost in efficiency will also increase power output from the wind sector, according to Morgan Stanley.
The researchers also predict America will reach its Paris Climate Accord targets in 2020 -- five years early -- simply because renewables are already becoming the cheapest option for power.

Comments

...will reach its Paris Climate Accord targets...

[Tailhook]

No, the targets will not be met; the targets are not only the renewable fraction of power generation. The terms also include a vast annual wealth transfer. Not underwriting another UN/worldbank/blahblah slush fund will continue to be excellent policy regardless of how many wind turbines we erect. And no, I don't care how few F-35 equivalent dollars our share of the payoff was to be; I'd rather have the F-35s and forego building palaces for Pacific Island potentates.

I wonder how this is going to work for our "progressives"...? I mean, if renewables really do get cheap enough they'll mitigate the bulk of the carbon emission problem. Yet we haven't made so much as a dent in the prevalence of cars, exurbanites and the deplorables beyond them haven't been forced to consolidate into urban efficiency apartments, everyone is still eating beef... How awful. The US doesn't even have a proper federal carbon tax yet! What good is all this if people can't be made to bend to the will of "our values (tm)"?

Of course, I'll believe all these promises when they're delivered. Getting the banksters at Morgan Stanley to put their name to another piece of green group-think no one will hold them accountable for isn't any great feat, so I'll continue to indulge my skepticism.